SCHO vs. BSV
SCHO (Schwab Short-Term U.S. Treasury ETF) and BSV (Vanguard Short-Term Bond Index Fund ETF Shares) are both exchange-traded funds - SCHO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while BSV is a Short-Term Bond fund tracking the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, SCHO returned 1.68%/yr vs 1.91%/yr for BSV. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.03% expense ratio.
Performance
SCHO vs. BSV - Performance Comparison
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Returns By Period
In the year-to-date period, SCHO achieves a 0.42% return, which is significantly higher than BSV's 0.32% return. Over the past 10 years, SCHO has underperformed BSV with an annualized return of 1.68%, while BSV has yielded a comparatively higher 1.91% annualized return.
SCHO
- 1D
- 0.00%
- 1M
- 0.14%
- YTD
- 0.42%
- 6M
- 0.62%
- 1Y
- 3.01%
- 3Y*
- 4.20%
- 5Y*
- 1.84%
- 10Y*
- 1.68%
BSV
- 1D
- 0.10%
- 1M
- 0.21%
- YTD
- 0.32%
- 6M
- 0.51%
- 1Y
- 3.18%
- 3Y*
- 4.51%
- 5Y*
- 1.68%
- 10Y*
- 1.91%
SCHO vs. BSV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHO Schwab Short-Term U.S. Treasury ETF | 0.42% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.32% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
Correlation
The correlation between SCHO and BSV is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | 0.79 |
The correlation between SCHO and BSV shifts across timeframes, from 0.79 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SCHO vs. BSV — Risk / Return Rank
SCHO
BSV
SCHO vs. BSV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term U.S. Treasury ETF (SCHO) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SCHO | BSV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.33 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 2.48 | +1.04 |
| Martin ratioReturn relative to average drawdown | 14.59 | 8.14 | +6.45 |
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Drawdowns
SCHO vs. BSV - Drawdown Comparison
The maximum SCHO drawdown since its inception was -5.69%, smaller than the maximum BSV drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for SCHO and BSV.
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Drawdown Indicators
| SCHO | BSV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.69% | -8.54% | +2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -1.29% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -1.53% | +0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | -8.54% | +2.85% |
Max Drawdown (10Y)Largest decline over 10 years | -5.69% | -8.54% | +2.85% |
Current DrawdownCurrent decline from peak | -0.27% | -0.60% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -0.97% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.39% | -0.18% |
Volatility
SCHO vs. BSV - Volatility Comparison
The current volatility for Schwab Short-Term U.S. Treasury ETF (SCHO) is 0.49%, while Vanguard Short-Term Bond Index Fund ETF Shares (BSV) has a volatility of 0.60%. This indicates that SCHO experiences smaller price fluctuations and is considered to be less risky than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCHO | BSV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 0.60% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.98% | 1.33% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.40% | 1.82% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 2.73% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.56% | 2.38% | -0.82% |
SCHO vs. BSV - Expense Ratio Comparison
Both SCHO and BSV have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SCHO vs. BSV - Dividend Comparison
SCHO's dividend yield for the trailing twelve months is around 3.91%, less than BSV's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 3.99% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
SCHO Schwab Short-Term U.S. Treasury ETF | 3.91% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
Frequently Asked Questions
SCHO and BSV have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSV has higher volatility (0.60%) compared to SCHO (0.49%). In terms of maximum drawdown, SCHO dropped -5.69% vs BSV's -8.54%.
On 10-year performance, BSV leads with 1.91% vs 1.68% for SCHO. Both ETFs have the same 0.03% expense ratio. On volatility, SCHO has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BSV has performed better with a 1.91% return vs 1.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHO and BSV have the same expense ratio: 0.03% per year.
BSV has the higher dividend yield at 3.99%, compared with 3.91% for SCHO.
SCHO is categorized as Government Bonds, while BSV is Short-Term Bond. SCHO tracks Bloomberg U.S. Treasury 1-3 Year Index, while BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. They also come from different issuers: Charles Schwab and Vanguard.
SCHO currently has the higher Sharpe Ratio (2.16 vs 1.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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